Blackstone Inc. (NYSE:BX) Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC cut its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 17.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,046 shares of the asset manager's stock after selling 2,132 shares during the period. Castle Rock Wealth Management LLC's holdings in Blackstone were worth $1,420,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Hager Investment Management Services LLC bought a new position in shares of Blackstone in the fourth quarter worth $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone during the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in Blackstone during the fourth quarter valued at about $33,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Blackstone in the fourth quarter worth about $34,000. Finally, Roxbury Financial LLC purchased a new position in shares of Blackstone in the fourth quarter worth about $34,000. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on BX shares. Barclays lifted their price objective on Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research report on Monday, April 21st. Wells Fargo & Company boosted their price objective on shares of Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Citigroup decreased their target price on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Cowen restated a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Finally, TD Cowen dropped their target price on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Blackstone presently has an average rating of "Hold" and an average price target of $155.65.

Insider Transactions at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the acquisition, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ruth Porat acquired 237 shares of the business's stock in a transaction on Monday, May 5th. The stock was purchased at an average cost of $136.33 per share, with a total value of $32,310.21. Following the acquisition, the director now directly owns 37,067 shares of the company's stock, valued at $5,053,344.11. This represents a 0.64% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

Blackstone Trading Up 0.3%

Blackstone stock traded up $0.44 during midday trading on Thursday, reaching $139.20. The stock had a trading volume of 1,097,383 shares, compared to its average volume of 3,782,209. The firm has a market cap of $101.57 billion, a price-to-earnings ratio of 38.35, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The company has a fifty day moving average of $135.57 and a 200 day moving average of $158.27. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period last year, the business posted $0.98 earnings per share. On average, analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were paid a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.67%. Blackstone's payout ratio is currently 112.05%.

Blackstone Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.